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Economy
Sri Lanka’s reform agenda is intimidating
The economic crisis, that ended the presidency of Gotabaya Rajapaksa in Sri Lanka in July, is not over. Poverty has worsened considerably. A new IMF loan could help – but the IMF has made the restructuring of other debts a precondition.…
STI advances 0.1% ahead of crucial US inflation data
Singapore shares rose on Tuesday (Dec 13) ahead of a nail-biting inflation data release out of the US and overnight gains on Wall Street.
The key Straits Times Index (STI) advanced 31.62 points or 0.1 percent to 3271.28, alongside regional…
Japanese yen touches 32-year low against US dollar
The Japanese yen touched a 32-year low against the US dollar after official figures showed that prices had risen faster than expected in America.
The yen fell to 147.66 against the US dollar before regaining some ground.…
World Bank: Global rate hikes could trigger 2023 recession
Interest rate hikes by central banks around the world could trigger a global recession in 2023, the World Bank has said.
Central banks have raised rates "with a degree of synchronicity not seen over the past five decades" to…
Long Covid costs Australia economy $5 billion a year
Long Covid is costing the Australian economy the equivalent of A$5.2 billion (S$5 billion) a year in lost output, the Australian Financial Review reported.
Based on data from the country's Treasury estimating some 31,000 workers called in…
Bitcoin drops below $20,000 over concerns on Fed rate hikes
The volatility has come amid uncertainty about the path and magnitude of Fed rate hikes & effect on riskier assets.
Bitcoin extended its drop below $20,000 on Monday as part of a wider cryptocurrency-market retreat, amid concern about…
Sri Lanka central bank holds rates steady
Policy makers are assessing effects of interest hikes this year on cooling price growth, amid an unprecedented economic crisis.
The Central Bank of Sri Lanka (CBSL) has kept its key rates steady, a widely anticipated move as it awaits the…
Multi-billionaire Elon Musk sells another $6.9bn of Tesla shares
Tesla boss Elon Musk has sold another 7.92 million shares in the electric car maker, worth around $6.88bn (£5.7bn).
The sales took place after the firm's annual shareholder meeting last week, regulatory filings show.…
Netflix partners with Microsoft to offer cheaper plan with ads
Netflix aims to roll out a cheaper plan after posting its first subscriber loss in more than a decade.
Streaming giant Netflix says it will work with Microsoft to offer a cheaper subscription plan that includes advertisements as it fights…
Russian commodities traders replace Switzerland with Dubai
Ratcheting up of sanctions is promoting a migration of Russian businesses to Dubai as it becomes tougher to do business in Switzerland.
Traders of Russian commodities are rushing to set up businesses in Dubai as Switzerland makes it…